BlackRock MuniYield New York Quality Fund (NYSE:MYN) Hits New 1-Year Low – Time to Sell?

BlackRock MuniYield New York Quality Fund, Inc. (NYSE:MYN – Get Free Report) hit a new 52-week low on Tuesday . The company traded as low as $9.12 and last traded at $9.13, with a volume of 37420 shares traded. The stock had previously closed at $9.21.

BlackRock MuniYield New York Quality Fund Price Performance

The company’s 50-day moving average price is $9.72 and its two-hundred day moving average price is $9.86.

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BlackRock MuniYield New York Quality Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 22nd. Stockholders of record on Friday, December 11th will be paid a dividend of $0.0512 per share. The ex-dividend date is Friday, December 11th. This represents a c) dividend on an annualized basis and a dividend yield of 6.8%.

Institutional Investors Weigh In On BlackRock MuniYield New York Quality Fund

A number of institutional investors have recently modified their holdings of MYN. Lido Advisors LLC boosted its stake in shares of BlackRock MuniYield New York Quality Fund by 70.6% in the first quarter. Lido Advisors LLC now owns 291,732 shares of the investment management company’s stock valued at $2,816,000 after buying an additional 120,743 shares during the period. Royal Bank of Canada raised its holdings in BlackRock MuniYield New York Quality Fund by 188.4% in the 1st quarter. Royal Bank of Canada now owns 233,743 shares of the investment management company’s stock valued at $2,244,000 after acquiring an additional 152,703 shares in the last quarter. Whitebox Advisors LLC bought a new stake in shares of BlackRock MuniYield New York Quality Fund during the 1st quarter valued at $2,627,000. WNY Asset Management LLC bought a new stake in shares of BlackRock MuniYield New York Quality Fund during the 1st quarter valued at $1,249,000. Finally, Bank of America Corp DE grew its holdings in shares of BlackRock MuniYield New York Quality Fund by 132.7% during the 1st quarter. Bank of America Corp DE now owns 1,645,711 shares of the investment management company’s stock worth $15,799,000 after purchasing an additional 938,369 shares in the last quarter. Institutional investors own 29.32% of the company’s stock.

About BlackRock MuniYield New York Quality Fund

(Get Free Report)

BlackRock MuniYield New York Quality Fund, Inc (NYSE: MYN) is a non-diversified, closed-end management investment company. The fund seeks to provide current income that is exempt from regular federal income tax and New York State and New York City personal income taxes, while also seeking to preserve capital.

To pursue its objective, the fund invests primarily in municipal obligations issued by or on behalf of the State of New York, its municipalities, and other public authorities. Its portfolio may include bonds financing public infrastructure and essential services, such as transportation, education, utilities, health care, and housing.

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